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VW reveals plug-in diesel hybrid concept, claims 261 mpg

Volkswagen has used a car show in the Middle East nation of Qatar to unveil a two-seat plug-in hybrid concept car that the automaker says will deliver 261 mpg. The VW XL1 uses a lithium-ion battery pack, an electric motor and a two-cylinder, 0.8-liter diesel engine for the powertrain. We're still digesting the press release, but here are some highlights: -- VW says the XL1 can travel about 22 miles on electricity from the battery pack.

Spyker attempting to sell Saab real estate in money-raising move

The next chapter in the Saab cash crunch appears to involve Spyker selling Saab real estate to an unnamed financial institution, with the automaker leasing the property back for its operations. Saab has been forced to shut down production twice in the past few weeks in the wake of unpaid supplier bills, raising concerns that Dutch owner Spyker may be facing a liquidity crunch. The latest move is likely aimed at freeing capital for the automotive operations while the company negotiates for a loan with the help of the Swedish government.

2013 Volkswagen Beetle Convertible confirmed

Volkswagen will reveal the 2013 VW Beetle Convertible at the Los Angeles Auto Show in November. The new VW Beetle is only just starting to make an appearance on UK roads but already it’s about to be overshadowed by its flasher sibling – the 2013 VW Beetle Convertible. Launching at the Los Angeles Auto Show in November, the new Beetle Convertible will be loosely based on the VW E-Bugster Cabriolet Concept we saw at the Beijing Show in the Spring.